Neo Group Limited has reported earnings of $13.6 million for the 1HFY2020/2021 ended Sept 30, 2020, some 486.5% up from the earnings of $2.3 million reported a year ago. This was mainly due to higher other income of $9.17 million, which was an increase of 846.6% compared to the $0.97 million a year ago.

This brings earnings per share for 1HFY2020/2021 to 9.24 cents, a significant increase from just 1.58 cents in the previous year. 

The $8.2 million increase in other income was primarily attributable to the higher financial grants received from the government during the period, where some $8.0 million represents support for wages and property tax rebates passed down from the landlords.

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